GB Bank expands to London

GB Bank is opening a new office in London’s Mayfair.

In addition to its existing Middlesbrough office, this strategic expansion marks GB Bank’s arrival in the capital, with bosses ready to bring the bank’s award-winning approach to the London market.

Stephen Lancaster, GB Bank chief executive and co-founder said: “The opening of our London office is a significant milestone for GB Bank.

“This expansion allows us to serve the entire UK market even more effectively.

“Since securing our full banking licence in 2022, we have been successfully delivering property finance solutions across the UK with exceptional communication and rapid turnaround times.

“Our new office gives us a great base to bring our flexible approach to the London market.

“We pride ourselves on playing an active role within local property markets so we are now looking forward to partnering with local developers and investors in and around the capital on their upcoming projects.”

The announcement follows GB Bank securing a £85 million investment from new backer Hera Holdings and existing shareholder, the Teesside Pension Fund.

This significant investment allows GB Bank to raise its loan size to £10 million per project, with a Loan To Value (LTV) ratio of up to 80 per cent.